Frequently Asked Questions

We’re here to help. The questions we get asked most often are listed below for quick reference, but if you don’t see the answer you’re looking for, we’d be happy to chat. Just call our office at 516-385-6900 or use the form on this page to get started.

What is a mortgage banker?

A mortgage banker is an institution that underwrites, in-house, for many different banks. As a mortgage banker, we help you choose the product and bank that best suits your needs.

Are you a broker?

While we are primarily a mortgage banker, if any of the banks that we work with do not fit your needs, we have the option to act as a broker to multiple lenders to help you accomplish your goals.

How quickly can you give me a commitment?

Once we receive all of your necessary documentation our turn times are generally between 24 and 48 hours. If necessary, we may be able to offer a same day commitment.

Do you provide loan estimates?

In most cases we can give you a good loan estimate in under one hour. There is no charge for this service whether or not you choose to work with Contour.

Should I get pre-qualified?

Yes, it’s a good idea to get pre-qualified. It will help you know how much you can borrow and, even more importantly, what loan amount you can comfortably afford.

Can I get pre-approved?

Yes, you can be pre-approved as long as you can provide us with certain documentation such as evidence of income, assets, liabilities and credit. The benefit is that we’ll provide a pre-approval certificate for you to show the seller, which will give you the best chance for getting your offer accepted, especially in a competitive situation. Also, having been pre-approved, you’ll be able to close very quickly.

What is a rate lock?

A rate lock is a commitment from Contour for a determined period of time to give you a mortgage at a set rate, regardless of whether rates go up or down before you close.

Wouldn’t it be better to get a mortgage from my own bank since I have a relationship with them?

At Contour, we deal with all of the major banks across the region, so chances are we already have a relationship with your bank. The main advantage that we offer is access to all of the banks, which will help you get access to the most competitive rates that are available.

If I find a better loan rate, will you match it?

We doubt you’ll find a better rate offer than Contour, but if you do, please let us know and we will do our best to match or beat the offering rate for the same loan product.

Can you provide referrals for other home-buying services?

We have professional relationships with many reputable nationwide realtors, home inspectors and home insurance companies, and are more than happy to provide those names to you upon request.

Can you get me a mortgage if my credit is questionable?

While it’s always easiest to get financing if you have good credit, we can certainly work with you to find any available, quality finance options or to give you tips on how to improve your credit.

How can I avoid delays in the mortgage process?

Speak with one of our consultants before you start looking for your new home. They will help you prepare the necessary items so you will be one step ahead of the pack.

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This website and all its contents is an advertisement from Contour Mortgage Corporation, not FHA or HUD. This content has not been approved by the Department or Government Agency Licensed Mortgage Banker – New York State Dept of Financial Services. Contour Mortgage Corporation - Equal Opportunity Lender - NMLS # 34384